Bulls managing to hold key support level on SPY but it also has that bear flag look below 20 and 50 MA.
Bulls need to close SPY over that 20 and 50 MA. Doable but lately the bounce had not much energy or momentum. My gut feeling we haven’t seen the lows yet and sooner or later that March low would be tested and/or might gets taken out. Hit and run tactical trading for us, long and short same stocks for in this choppy/sloppy trading environment. Earning season is here, so we will mostly focus on trading earning news related stocks in chat room . NFLX short and GNC long, couple of earning plays that we traded in chat room for some nice gains. So keep an eye on those earning related names. Slim pickings as far as watch list names. Not finding many interesting setups. So stay nimble out there.
If you are struggling with your trading or learn how to trade you need to check out our trading courses. Our program is designed in such a way that you come out of it ready to trade live in just 3 months. We teach you everything from risk management to scanning to trading strategies. I also share my profitable intraday trading strategy which will make you money short term regardless of Market condition. The class is one of a kind, see why you should sign up for the course here . You will also have access to a private community where you can ask questions, share charts and talk with the instructors or other traders. You can also check out the testimonials from our students.
Also if you are interested in our day trade alert services and chat room Check them out here.
Follow me on Twitter for real time trading setups@szaman and on StockTwits @szaman
Check out our newest Offering “Bulls Vision” ! A brand new screen share product! See through the eyes of
@kunal00 while he trades live everyday.